Shares of Horizon Therapeutics Public Limited Company (HZNP - Free Report) have surged 99.4% year to date against the industry’s decline of 1.5%. The year has been good for the company with several positive regulatory and pipeline developments.Some factors that have led to the growth are as follows.
In January 2020, the FDA approved the company’sdrug, Tepezza, for the treatment ofpatients with thyroid eye disease (TED). With the approval, Tepezza became the first FDA-approved medicine for the treatment of active TED, which has a significant unmet need. The launch of the drug has been encouraging despite a challenging COVID-19 environment. Based on continued strength of Tepezza, the company increased both the drug and 2020’s net sales guidanceduring the second-quarter conference call held in August.
Further, Horizon is working on the label expansion of marketed drugs like Tepezza, Krystexxa, Actimmune, Procysbi and Ravicti. The label expansions will further boost sales of the company.
In February 2020, the FDA approved Procysbi delayed-release oral granules in packets for adults and children one year of age and older living with nephropathic cystinosis. This new dosage form provides another administration option for patients, in addition to the currently available Procysbi capsules
The company expects to initiate a studyon Tepezza in patients with chronic TED.
On Apr 1, the company completed the acquisition of Curzion Pharmaceuticals, Inc. and its lysophosphatidic acid 1 receptor (LPAR1) antagonist candidate (renamed HZN-825) for the treatment of diffuse cutaneous systemic sclerosis (dcSSc). The company expects to begin a pivotal phase IIb study on the same in the first half of 2021.The company’s growth-by-acquisition strategy is encouraging.
Zacks Rank & Other Stocks to Consider
Horizon currently carries a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the healthcare sector include Emergent Biosolutions Inc. (EBS - Free Report) , Bio Techne Corp (TECH - Free Report) and Alimera Sciences Inc. (ALIM - Free Report) . While Emergent sports a Zacks Rank #1, Bio Techne and Alimera carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Emergent’s earnings estimates have increased from $3.45 to $6.32 for 2020 and from $4.31 to $7.01 for 2021 over the past 60 days. Shares of the company have increased 88.6% year to date.
Bio Techne’s earnings estimates have increased from $5.33 to $5.58 for 2020 and from $6.41 to $6.45 for 2021 over the past 60 days. Shares of the company have increased 13.6% year to date.
Alimera’s loss per share estimates have narrowed from $2.33 to $1.31 for 2020 and from 63 cents to 52 cents for 2021 over the past 60 days. Shares of the company have decreased 23.6% year to date.
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